UAE Committed To Supplying Market With Crude Needs – Oil Minister

The UAE oil minister said on Tuesday the Gulf Arab state was committed to supplying the market with its crude needs and that the OPEC member did not have a target for oil prices.

“We will not fall short from meeting this need and we will also not politicise this operation. It’s supply and demand,” Suhail bin Mohammed al-Mazroui told a conference in Abu Dhabi.

“Our target is not to put a price for oil but our aim is for the investments to continue. We don’t want to witness a crisis after years because we fell short of investments or the price was not suitable.”